China's Wanda agrees deal with world basketball federation

June 16, 2016 6:02 AM

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BEIJING – China's largest private property developer, the Wanda Group, is teaming up with basketball's international governing body FIBA in a multimillion-dollar marketing deal as it expands its global presence in sports.

Wanda chairman Wang Jianlin and FIBA secretary general Patrick Baumann said in Beijing on Thursday that Wanda subsidiary Infront Sports & Media will exclusively sell and market the association's global sponsorship and licensing rights for FIBA's Basketball World Cup events up to 2033.